| News | EA Stock Reaches Lowest Price For Nearly 8 Years, Blames Harry Potter |
In news I almost missed, ironically as it happens, because I was having a look at EA’s Be The One event in London, EA’s stock fell 20% over the weekend.
The fall came as EA announced 500 jobs will be cut to try and save money. The BBC reports that EA are blaming high market costs as well as “delays to the latest Harry Potter video game” as factors to their troubles.
The last time the shares were this low was way back in January 2001. At their peak price in 2005, EA’s shares were priced at nearly $70 each, only a dream compared to today’s $23.
The stock price has been gradually eroding away year on year since ‘05, but has been accelerating it’s demise in recent months with stocks falling more than 50% in value since the start of September. Still, not to worry, we all know the videogame industry is recession proof, right EA?
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It’ll go back up. Buy buy buy!
Potter!!!!!
WIZARD PEOPLE!
I just find it amusing that they put the blame on Harry Potter, instead of the incredible backlash to EVERYTHING they produce that includes SecuROM. Further proof that EA is corporate-minded, seeking only to make money with no regard for the people who happen to be the ones paying them. Who else out there simply refuses to buy EA games because of their DRM practices lately?
Holy shit pandas! Not Harry Potter!!
Perhaps they shouldn’t have said it was going to be delayed?
‘ARRY POTTAH!
Yer causin’ a recession ‘arry!